SHKP Quarterly

With strong confidence in the long-term prospects of Hong Kong, the Group is pleased to win three tenders for commercial projects – a commercial site on Sai Yee Street, Mong Kok, the right to develop and operate the Artist Square Towers Project, and commercial sites near Kwun Tong’s Anderson Road – to further expand its investment property footprint for future growth. The Group is committed to Building Homes with Heart and continually supports the development of Hong Kong. Following its tender success for the Artist Square Towers Project in the West Kowloon Cultural District last November and with Hong Kong on the path to economic recovery, the Group is excited to again embark on 集團投得三個商業項目 進一步擴大其投資物業版圖 The Group wins three tenders for commercial projects to further expand its investment property footprint The Group wins a tender for a commercial site on Sai Yee Street, Mong Kok, which will be developed into a new landmark in Kowloon 集團投得旺角洗衣街商業項目，將打造該項目成為九龍的全新地標 the opportunities from the commercial site on Sai Yee Street, Mong Kok. This new project will create strong synergy with Grand Century Place Complex , including offices, MOKO and Royal Plaza Hotel, which are owned by the Group for more than two decades, giving fresh impetus to the development of Hong Kong. The commercial site on Sai Yee Street, Mong Kok, with a gross floor area of 1.5 million square feet, will have a 320-metre-tall tower, making it the tallest commercial landmark in Kowloon after ICC. It will come with a walkway to the MTR Mong Kok East Station, as well the Group’s Grand Century Place Complex. As the latter has a total gross floor area of 1.6 million square feet, the aggregate commercial space of the two projects will be around 3.0 million square feet, making the cluster the largest office-and-retail landmark in Mong Kok and a business, retail and tourist hub in Central Kowloon. The project will provide a public rooftop viewing platform, the only such facility in the vicinity, as well as plenty of green open space, offering an unprecedented experience to visitors and residents of Mong Kok. It will also provide a public transport interchange, and an improved road network and pavements, which will substantially improve traffic in the area. Linked to the nearby footbridge network, the project will be seamlessly connected to the MTR Mong Kok Station, where the Tsuen Wan Line and the Kwun Tong Line intersect, as well as the East Rail Mong Kok East Station, thus greatly enhancing the connectivity of the district. In addition, following the Group’s tender win of large-scale commercial project atop the High Speed Rail West Kowloon Terminus at the end of 2019, it has again invested in large-scale developments in West Kowloon, winning the right to develop and operate the Artist Square Towers Project, whose total gross floor area is nearly 700,000 square feet, for approximately 47 years. In view of the nation’s clear support, stated in the National 14th Five-year Plan, for Hong Kong to develop into an East-meets- West centre for international cultural exchange, the Group believes that upon completion, the project will not only help foster the development of Eastern and Western arts and cultural exchanges in Hong Kong, Business News - Hong Kong Vol 107 • Q1 2023 • SHKP Quarterly 14